USA Rare Earth (NASDAQ:USAR) Stock Price Down 2.7% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) shares fell 2.7% during trading on Wednesday . The company traded as low as $20.32 and last traded at $20.33. 13,194,867 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 18,606,004 shares. The stock had previously closed at $20.90.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on USAR. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of USA Rare Earth in a research report on Thursday, June 4th. Needham & Company LLC began coverage on USA Rare Earth in a research report on Monday, June 1st. They issued a “buy” rating and a $39.00 price target on the stock. Wall Street Zen raised USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Roth Mkm reissued a “buy” rating on shares of USA Rare Earth in a research report on Thursday, June 4th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Stock Performance

The firm has a market capitalization of $4.90 billion, a P/E ratio of -5.61 and a beta of 2.33. The firm has a 50-day moving average of $22.71 and a 200-day moving average of $19.52.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, research analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new position in USA Rare Earth in the 3rd quarter valued at approximately $8,304,000. Jennison Associates LLC bought a new position in USA Rare Earth in the 4th quarter valued at approximately $1,586,000. JPMorgan Chase & Co. purchased a new stake in USA Rare Earth during the 3rd quarter valued at $734,000. Sovran Advisors LLC raised its stake in USA Rare Earth by 119.7% during the 4th quarter. Sovran Advisors LLC now owns 489,707 shares of the company’s stock valued at $5,828,000 after buying an additional 266,783 shares during the last quarter. Finally, Kercheville Advisors LLC raised its stake in USA Rare Earth by 272.0% during the 4th quarter. Kercheville Advisors LLC now owns 37,200 shares of the company’s stock valued at $443,000 after buying an additional 27,200 shares during the last quarter.

USA Rare Earth Company Profile

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.